Williams-Sonoma, Inc. $WSM Stock: Keybank National Association OH Raises Stake

Keybank National Association OH grew its stake in Williams-Sonoma, Inc. (NYSE:WSM) by 53.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,585 shares of the specialty retailer’s stock after acquiring an additional 2,974 shares during the period. Keybank National Association OH’s holdings in Williams-Sonoma were worth $1,957,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Latitude Advisors LLC bought a new stake in shares of Williams-Sonoma during the third quarter valued at approximately $25,000. Provenance Wealth Advisors LLC bought a new position in Williams-Sonoma in the third quarter worth approximately $28,000. IMG Wealth Management Inc. bought a new position in Williams-Sonoma in the second quarter worth approximately $31,000. Meeder Asset Management Inc. bought a new position in Williams-Sonoma in the second quarter worth approximately $35,000. Finally, Ballast Advisors LLC purchased a new position in Williams-Sonoma during the 1st quarter worth $30,000. 99.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WSM. Jefferies Financial Group set a $275.00 target price on Williams-Sonoma in a research report on Wednesday, August 26th. Telsey Advisory Group set a $260.00 price target on Williams-Sonoma and gave the stock an “outperform” rating in a research report on Thursday, August 27th. Weiss Ratings raised Williams-Sonoma from a “hold (c+)” rating to a “buy (b)” rating in a research report on Monday, August 31st. TD Cowen restated a “buy” rating on shares of Williams-Sonoma in a research note on Monday, August 10th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $259.00 price objective (down from $260.00) on shares of Williams-Sonoma in a report on Thursday, October 29th. Ten equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Williams-Sonoma currently has an average rating of “Moderate Buy” and an average target price of $250.17.

Insider Buying and Selling

In related news, CFO Jeffrey Howie sold 3,045 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $220.61, for a total transaction of $671,757.45. Following the completion of the sale, the chief financial officer directly owned 34,138 shares in the company, valued at $7,531,184.18. This represents a 8.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Laura Alber sold 35,000 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $221.20, for a total value of $7,742,000.00. Following the sale, the chief executive officer owned 853,524 shares of the company’s stock, valued at $188,799,508.80. This trade represents a 3.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 39,361 shares of company stock valued at $8,738,903. 1.10% of the stock is currently owned by insiders.

Williams-Sonoma Stock Up 1.5%

WSM stock traded up $3.68 during trading on Friday, hitting $254.06. 1,199,729 shares of the company’s stock traded hands, compared to its average volume of 954,440. The firm has a market capitalization of $29.92 billion, a P/E ratio of 26.00, a PEG ratio of 2.71 and a beta of 1.49. The business has a fifty day simple moving average of $241.80 and a two-hundred day simple moving average of $217.25. Williams-Sonoma, Inc. has a 1 year low of $165.51 and a 1 year high of $274.45.

Williams-Sonoma (NYSE:WSM) last posted its earnings results on Wednesday, August 26th. The specialty retailer reported $2.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.02. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.93 billion. Williams-Sonoma had a return on equity of 53.48% and a net margin of 14.73%. Williams-Sonoma’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.00 earnings per share. On average, equities research analysts predict that Williams-Sonoma, Inc. will post 9.50 EPS for the current fiscal year.

Williams-Sonoma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, October 16th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, October 16th. Williams-Sonoma’s payout ratio is presently 31.12%.

Williams-Sonoma Profile

Williams-Sonoma, Inc. is a specialty retailer focused on home furnishings, kitchenware and related products. Its portfolio includes Williams Sonoma, Pottery Barn, Pottery Barn Kids and Teen, West Elm, Rejuvenation, and Mark and Graham, with offerings ranging from cookware and furniture to lighting, textiles, décor and gifts. Founded in 1956 by Chuck Williams as a cookware shop in Sonoma, California, the company has grown into a multichannel retailer. It sells through its websites and retail stores, serving customers in North America and select international markets.